Latest news with #ChengLiChiun
Yahoo
a day ago
- Business
- Yahoo
Taiwan is continuing tariff negotiations with US, cabinet official says
TAIPEI (Reuters) -Taiwan's cabinet is still negotiating for more favourable tariff rates after a 20% levy was imposed by U.S. President Donald Trump, Vice Premier Cheng Li-chiun said on Monday. "Taiwan's goal is to seek a better and more reasonable tariff rate from the U.S.", Cheng told a news briefing, adding that negotiations with the U.S. are continuing, and that they are prepared to report to Taiwan's parliament on their progress. Cheng said Taiwan was hoping to continue its tariff negotiations concurrent with a U.S. national security probe, which is being conducted under Section 232 of the Trade Expansion Act of 1962. Taiwan has the sixth-largest trade deficit with the U.S., with 90% of that from semiconductors. Taiwan's TSMC is the world's biggest contract chip maker and makes chips for tech giants such as Nvidia. Rates for semiconductors, electronics as well as information and communication technology - which make up the bulk of Taiwan's exports to the U.S. - will be subject to separate U.S. sectoral tariffs and are still to be worked out. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
a day ago
- Business
- Reuters
Taiwan is continuing tariff negotiations with US, cabinet official says
TAIPEI, Aug 11 (Reuters) - Taiwan's cabinet is still negotiating for more favourable tariff rates after a 20% levy was imposed by U.S. President Donald Trump, Vice Premier Cheng Li-chiun said on Monday. "Taiwan's goal is to seek a better and more reasonable tariff rate from the U.S.", Cheng told a news briefing, adding that negotiations with the U.S. are continuing, and that they are prepared to report to Taiwan's parliament on their progress. Cheng said Taiwan was hoping to continue its tariff negotiations concurrent with a U.S. national security probe, which is being conducted under Section 232 of the Trade Expansion Act of 1962. Taiwan has the sixth-largest trade deficit with the U.S., with 90% of that from semiconductors. Taiwan's TSMC ( opens new tab is the world's biggest contract chip maker and makes chips for tech giants such as Nvidia (NVDA.O), opens new tab. Rates for semiconductors, electronics as well as information and communication technology - which make up the bulk of Taiwan's exports to the U.S. - will be subject to separate U.S. sectoral tariffs and are still to be worked out.
Yahoo
23-07-2025
- Business
- Yahoo
Taiwan Aims to Strike Trade Deal With US in New Round of Talks
(Bloomberg) -- Taiwan's trade negotiators have arrived in the US for tariff talks to clinch a deal with President Donald Trump's team, according to a person familiar with the matter. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital Vice Premier Cheng Li-chiun and trade negotiator Yang Jen-ni have arrived in Washington, DC, for the fourth round of talks, the person said Wednesday, asking not to be identified due to the sensitivity of the matter. Exchanges between the two sides have so far been constructive, the person added, while noting the final tariff rate is Trump's decision and still remains unclear. Cabinet spokesperson Michelle Lee did not respond to a request for comment. Taiwan's Liberty Times newspaper first reported the delegation's arrival in Washington. The talks come as Trump announces a slew of tariff rates on Taiwan's neighbors. While those deals have provided clarity to investors after months of turmoil, they've also left regional peers such as Japan and the Philippines facing rates of 15% and 19%, respectively, on exports to the US. Taiwan's growing reliance on the US market has intensified its need to bring down tariffs. Taiwan ran a trade surplus of about $65 billion with the US last year, backed by strong demand for tech goods critical to the AI boom. That imbalance is sure to rankle Trump, who's looking to reshape US trade partnerships. In April, he hit Taiwanese goods with levies of 32%, before pausing them while both sides tried to hammer out a deal. The US is still considering sectoral tariffs on semiconductors, which would have an outsize impact on global chip hub Taiwan. To alleviate the trade imbalance, Taipei has signaled it will step up its procurement of US goods, including energy, agricultural products and military equipment. Taipei had also pledged to boost investment in the US and close export control loopholes for high-tech products that are a concern for Washington as it tries to curb China's innovation due to fears Beijing will win a military edge. Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
23-07-2025
- Business
- Bloomberg
Taiwan Aims to Strike Agreement with US in New Round of Talks
Taiwan's trade negotiators have arrived in the US for tariff talks to clinch a deal with President Donald Trump's team, according to a person familiar with the matter. Vice Premier Cheng Li-chiun and trade negotiator Yang Jen-ni have arrived in Washington, DC, for the fourth round of talks, the person confirmed Wednesday, while asking not to be identified due to the sensitivity of the matter.
Arab News
16-05-2025
- Business
- Arab News
Taiwan meets with US for tariff talks in South Korea
TAIPEI: The main Taiwan and U.S. trade representatives met in South Korea for trade negotiations, yielding optimism that further talks would lead to reduced U.S. tariffs on Taiwan exports, the island's Vice-Premier Cheng Li-chiun said on a news conference marking Premier Cho Jung-tai's first year in office, Cheng said chief Taiwan negotiator Jenni Yang reported "good bilateral talks" in which both sides shared expectations of future Taiwan-U.S. economic cooperation and continued talks Taiwan government confirmed in a statement that Yang met with U.S. Trade Representative Jamieson Greer at the Asia-Pacific Economic Cooperation's trade meeting on Jeju Island."Taiwan is confident it can reach trade balance by increasing purchases from the U.S.," Cheng said, adding that the U.S. is now the top overseas investment destination for was facing U.S. import tariffs of 32% on its products under U.S. President Donald Trump's new tariff policies, before Trump paused the plan last month for 90 has since begun tariff talks with Washington, promising to purchase more U.S. goods and invest more in America to achieve more balanced trade.
